#突破交易策略 The U.S. Securities and Exchange Commission (SEC) has been increasingly strict in its approval process for ETFs, especially those involving crypto assets or highly volatile financial products. The SEC evaluates key factors such as product transparency, liquidity, and investor protection mechanisms. Recently, the market has paid particular attention to the approval of Bitcoin spot ETFs, reflecting strong demand from investors for compliant digital asset investment channels. SEC approval not only signifies that the product is legal and compliant but also serves as a barometer for market sentiment. For fund companies, understanding the SEC approval process and compliance requirements is a crucial step for successfully launching products.